Tax Guide

Year End Tax 2004

Target Audience: This seminar is recommended for all acountants, bookkeepers, employers who are involved in the preparation of data that ultimately results in the completion and lodgement of an Australian Income Tax Return for the 2003/2004 year.

Preparation of Taxation Returns has never been more complex and demanding. The self-assessment regime and the evolution of computer-based lodgement of returns has seen the Australian Taxation Office (in accord with Australian Government Policy) rapidly and extensively change the applicable taxation law and its interpretation, so that a significant onus for accurate interpretation and application falls on the individual taxpayer and their taxation agent.
Taxation returns for the 2003/2004 year are no exception, with significant changes in interpretation being issued by the Commissioner of Taxation, coupled with a change in the reporting requirements on the Australian Income Tax Return form.
This seminar will examine the key issues which apply to the 2003/2004 taxation year and will provide
the necessary information to ensure that taxation agents have the most up to date knowledge to assist not only with the completion of the 2003/2004 Australian Income Tax Return forms, but also with understanding and applying the key areas of the complex underlying legislation.

Matters

* Changes to the 2003/2004 Taxation Returns for Individual and Business
* Changes to Deductions and Interpretations in significant areas impacting upon both Individuals and Businesses
* How to determine whether a share trading business is being conducted or not, and the consequent taxation implications
* Rental Properties update and the latest Australian Taxation Office guidelines, including Depreciation; Quantity Surveyor reports, and deductibility of investment seminar fees
* Audit expectations and Record Keeping to survive an audit by the ATO
* How to advise clients about their responsibilities and how to protect tax agents from both the ATO and Clients

As a result of this mattes tax payers will be able to confidently identify and understand the application of key issues in taxation legislation and its interpretation by the Australian Taxation Office to ensure that the completion of 2003/2004 Australian Income Tax Returns complies with the current taxation legislation and its application.

Tax payers will be aware of the requirements to correctly complete the 2003/2004 taxation returns and the record keeping requirements thereby enabling them to correctly advise their clients so that both the client and the agent can survive a taxation return audit.

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